In the Matter of Gordon Irving Wright, Bankrupt. Gordon Irving Wright, Bankrupt-Appellant v. George Lubinko, Creditor-Appellee

OPINION

Before CHAMBERS and WALLACE, Circuit Judges, and BALDWIN, * Associate Judge, U. S. Court of Customs and Patent Appeals. WALLACE, Circuit Judge:

Wright sold stock in his company to Lubinko in violation of California corporate securities laws which require a permit to sell such stock. Lubinko brought suit in the California Superior Court and recovered judgment against Wright for the purchase price plus interest. Wright subsequently filed for bankruptcy. The present controversy stems from Lubin-ko’s application to the bankruptcy court to declare the judgment debt nondis-chargeable under…